Read our monthly update on VFACTS new car sales results.
- Weekly Market Update 27th November 2023
- Protected: Weekly Market Update 20th November 2023
- VFACTS: New Car Sales Insights October 2023
- Weekly Market Update 13th November 2023
New Car Sales
- February 2023 saw a total figure of 86,878 new car sales for Australia as reported by VFACTS.
- Figures show new car sales were up +2% in February 2023 versus February 2022.
- Sales between states were largely up with ACT seeing a 13% increase compared to February 2022.
- Electric vehicle sales continue to skyrocket in February 2023, seeing a cumulative increase of 784% so far this year compared to last – although much of this is down to newly introduced sales of Tesla vehicles.
- Hybrid vehicles (-17%) and Diesel vehicles (-5%) sales decreased in February 2023.
New Car Sales Trends
The top 5 models with the greatest increases so far in 2023 are:
- Tesla Model 3 (+5,598 units)
- Ford Ranger 4X4 (+1,850 units)
- Hyundai Tucson (+1,665 units)
- Kia Sorento (+1,528 units)
- Subaru Outback (+1,284 units)
The bottom 5 models with the greatest decreases so far in 2023 are:
- Mitsubishi Triton 4X4 (-3,829 units)
- Toyota Prado (-3,039 units)
- Mazda CX-30 (-2,065 units)
- Toyota RAV4 (-1,806 units)
- Toyota Camry (-1,675 units)
The top segment increases so far in 2023 compared to 2022 are:
- Medium > $60K (+427%) (driven by newly introduced Tesla sales)
- Small > $40K (+171%)
- Light Buses => 20 Seats (+107%)
- People Movers < $70K (+55%)
- SUV Large > $70K (+40%)
Conversely, some of the largest decreases are:
- Upper Large < $100K (-100%)
- Vans/CC <= 2.5t (-62%)
- Light Buses < 20 Seats (-52%)
- Medium < $60K (-52%)
- Micro (-40%)
Please note that VFACTS has made some changes to the price groupings as shown in the table below:
|VFACTS Grouping 2023||VFACTS Grouping 2022|
|Light < $30K||Light < $25K|
|Light > $30K||Light > $25K|
|People Movers < $70K||People Movers < $60K|
|People Movers > $70K||People Movers > $60K|
|SUV Small < $45K||SUV Small < $40K|
|SUV Small > $45K||SUV Small > $40K|
|SUV Upper Large < $120K||SUV Upper Large < $100K|
|SUV Upper Large > $120K||SUV Upper Large > $100K|
Sales by Import Country
- Sales of imported vehicles from China continue to skyrocket with an increase of 13,490 units compared to 2022
- Sales of imported vehicles from Korea have made a strong showing in February 2023 with an increase of 1,453 units compared to 2022
- Sales of imported vehicles from Japan seeing the largest decrease of 10,323 units compared to 2022
- Sales of imported European vehicles continue to see declines
By Tanim Ahmed, Head of Product at Datium Insights
Tanim is a Macquarie University alumni with degrees in Finance and Economics. He has spent a decade in the Leasing and Finance industry, specializing in Residual Value risk.
Please contact Datium Insights for further analytical support and advisory services.
Disclaimer: This is a general information service only and we do not provide advice or take into account your personal circumstances, financial situation or needs. Please seek professional advice with regards to how any of the material on this website can impact your own financial situation. Datium Insights is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of this website.